Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS

Büşra Meniz

doi:10.17798/bitlisfen.1752363

Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS

Abstract

The aim of this study is to analyze the financial status of stocks from six companies within the non-metallic mineral products sector of the Borsa Istanbul (BIST) Sustainability Index. The study involved a total of 27 financial indicators for the years 2021 to 2024. The TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) algorithm, which is effective in handling multiple and potentially conflicting criteria, was selected for the investigation approach to rank companies. Furthermore, Pythagorean Fuzzy Sets (PFSs) established the number system as the research framework, as a tool to reflect the uncertainty. Hence, the approach enabled the process of highly ambiguous financial data from the sustainability index and addressed the uncertainty in sustainability performance evaluation via PFSs. As a result, it became possible to suggest a decision support model to the investors for a specific sector. For the sustainability-indexed companies from the chosen sector, the rankings and scores provided served as a demonstration of the persistence of NUHCM.IS stock and the high fluctuation in the stock of QUAGR.IS was shown.

Keywords

Ethical Statement

The study is complied with research and publication ethics.

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Details

Primary Language

English

Subjects

Quantitative Decision Methods

Journal Section

Research Article

Authors

Büşra Meniz ^*
0000-0002-5207-3899
Türkiye

Publication Date

December 31, 2025

Submission Date

July 28, 2025

Acceptance Date

December 15, 2025

Published in Issue

Year 2025 Volume: 14 Number: 4

DOI

https://doi.org/10.17798/bitlisfen.1752363

IZ

https://izlik.org/JA92PN59BJ

Cite

RIS / Bibtex

APA

Meniz, B. (2025). Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS. Bitlis Eren Üniversitesi Fen Bilimleri Dergisi, 14(4), 2509-2522. https://doi.org/10.17798/bitlisfen.1752363

AMA

1.Meniz B. Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS. Bitlis Eren Üniversitesi Fen Bilimleri Dergisi. 2025;14(4):2509-2522. doi:10.17798/bitlisfen.1752363

Chicago

Meniz, Büşra. 2025. “Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS”. Bitlis Eren Üniversitesi Fen Bilimleri Dergisi 14 (4): 2509-22. https://doi.org/10.17798/bitlisfen.1752363.

EndNote

Meniz B (December 1, 2025) Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS. Bitlis Eren Üniversitesi Fen Bilimleri Dergisi 14 4 2509–2522.

IEEE

[1]B. Meniz, “Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS”, Bitlis Eren Üniversitesi Fen Bilimleri Dergisi, vol. 14, no. 4, pp. 2509–2522, Dec. 2025, doi: 10.17798/bitlisfen.1752363.

ISNAD

Meniz, Büşra. “Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS”. Bitlis Eren Üniversitesi Fen Bilimleri Dergisi 14/4 (December 1, 2025): 2509-2522. https://doi.org/10.17798/bitlisfen.1752363.

JAMA

1.Meniz B. Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS. Bitlis Eren Üniversitesi Fen Bilimleri Dergisi. 2025;14:2509–2522.

MLA

Meniz, Büşra. “Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS”. Bitlis Eren Üniversitesi Fen Bilimleri Dergisi, vol. 14, no. 4, Dec. 2025, pp. 2509-22, doi:10.17798/bitlisfen.1752363.

Vancouver

1.Büşra Meniz. Financial Analysis of Non-Metallic Mineral Products Companies in the BIST Sustainability Index Using Pythagorean Fuzzy TOPSIS. Bitlis Eren Üniversitesi Fen Bilimleri Dergisi. 2025 Dec. 1;14(4):2509-22. doi:10.17798/bitlisfen.1752363